DIVINS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DIVINS
Largest movements
- Tangible fixed assets -€68,457
down €68,457 (-7.1%), from €970,197 to €901,740
of which Land and buildings: -€82,988
- Receivables within one year -€60,049
down €60,049 (-37.5%), from €160,290 to €100,241
of which Trade receivables: -€56,706
- Stocks and contracts -€35,151
down €35,151 (-8.2%), from €427,176 to €392,025
- Trade debts -€211,279
down €211,279 (-44.9%), from €470,136 to €258,857
- Profit (loss) carried forward +€32,776
up €32,776 (+17.8%), from -€183,945 to -€151,169
- Debts after one year +€28,624
up €28,624 (+27.2%), from €105,341 to €133,966
- Current portion of long-term debt +€25,002
up €25,002 (+35.0%), from €71,382 to €96,384
- Tax, wage and social debts -€24,097
down €24,097 (-33.3%), from €72,453 to €48,356
of which Remuneration and social security: -€24,412
- Staff costs -€87,412
down €87,412 (-23.2%), from €377,466 to €290,053
- Gross operating margin +€52,091
up €52,091 (+12.4%), from €420,256 to €472,347
- Depreciation +€21,085
up €21,085 (+27.1%), from €77,842 to €98,927
- Financial charges -€13,367
down €13,367 (-27.1%), from €49,257 to €35,890
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,574,005 | €1,413,593 | -€160,411 | -10.2% |
| Fixed assets | 21/28 | €970,197 | €901,940 | -€68,257 | -7.0% |
| Tangible fixed assets | 22/27 | €970,197 | €901,740 | -€68,457 | -7.1% |
| Land and buildings | 22 | €938,477 | €855,489 | -€82,988 | -8.8% |
| Plant, machinery and equipment | 23 | €17,553 | €14,193 | -€3,360 | -19.1% |
| Furniture and vehicles | 24 | €14,168 | €7,713 | -€6,456 | -45.6% |
| Leasing and similar rights | 25 | - | €24,346 | +€24,346 | |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €603,807 | €511,653 | -€92,154 | -15.3% |
| Stocks and contracts in progress | 3 | €427,176 | €392,025 | -€35,151 | -8.2% |
| Stocks | 30/36 | €427,176 | €392,025 | -€35,151 | -8.2% |
| Amounts receivable within one year | 40/41 | €160,290 | €100,241 | -€60,049 | -37.5% |
| Trade receivables | 40 | €122,693 | €65,987 | -€56,706 | -46.2% |
| Other amounts receivable | 41 | €37,597 | €34,254 | -€3,343 | -8.9% |
| Cash at bank and in hand | 54/58 | €12,399 | €11,885 | -€514 | -4.1% |
| Deferred charges and accrued income | 490/1 | €3,942 | €7,502 | +€3,560 | +90.3% |
| Total equity and liabilities | 10/49 | €1,574,005 | €1,413,593 | -€160,411 | -10.2% |
| Equity | 10/15 | €648,116 | €673,600 | +€25,485 | +3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €56,460 | €53,048 | -€3,412 | -6.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,601 | €51,188 | -€3,412 | -6.2% |
| Profit (loss) carried forward | 14 | -€183,945 | -€151,169 | +€32,776 | +17.8% |
| Investment grants | 15 | €7,009 | €3,130 | -€3,880 | -55.3% |
| Provisions and deferred taxes | 16 | €2,878 | €1,121 | -€1,757 | -61.1% |
| Deferred taxes | 168 | €2,878 | €1,121 | -€1,757 | -61.1% |
| Amounts payable | 17/49 | €923,011 | €738,872 | -€184,139 | -19.9% |
| Amounts payable after more than one year | 17 | €105,341 | €133,966 | +€28,624 | +27.2% |
| Financial debts | 170/4 | €105,341 | €133,966 | +€28,624 | +27.2% |
| Amounts payable within one year | 42/48 | €817,670 | €604,906 | -€212,763 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €71,382 | €96,384 | +€25,002 | +35.0% |
| Financial debts | 43 | €199,999 | €200,000 | +€1 | 0.0% |
| Other loans | 439 | €199,999 | €200,000 | +€1 | 0.0% |
| Trade debts | 44 | €470,136 | €258,857 | -€211,279 | -44.9% |
| Suppliers | 440/4 | €470,136 | €258,857 | -€211,279 | -44.9% |
| Taxes, remuneration and social security | 45 | €72,453 | €48,356 | -€24,097 | -33.3% |
| Taxes | 450/3 | €8,429 | €8,744 | +€315 | +3.7% |
| Remuneration and social security | 454/9 | €64,024 | €39,611 | -€24,412 | -38.1% |
| Other amounts payable | 47/48 | €3,700 | €1,311 | -€2,389 | -64.6% |
| Non-recurring operating income | 76A | €2,706 | €2,153 | -€553 | -20.4% |
| Remuneration, social security and pensions | 62 | €377,466 | €290,053 | -€87,412 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,842 | €98,927 | +€21,085 | +27.1% |
| Other operating charges | 640/8 | €23,509 | €23,416 | -€93 | -0.4% |
| Non-recurring operating charges | 66A | €123,320 | €479 | -€122,842 | -99.6% |
| Gross operating margin | 9900 | €420,256 | €472,347 | +€52,091 | +12.4% |
| Operating profit (loss) | 9901 | -€181,881 | €59,472 | +€241,353 | |
| Financial income | 75/76B | €4,945 | €4,025 | -€920 | -18.6% |
| Recurring financial income | 75 | €4,945 | €4,025 | -€920 | -18.6% |
| Financial charges | 65/66B | €49,257 | €35,890 | -€13,367 | -27.1% |
| Recurring financial charges | 65 | €49,257 | €35,890 | -€13,367 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€226,193 | €27,607 | +€253,801 | |
| Transfer from deferred taxes | 780 | €2,196 | €1,757 | -€439 | -20.0% |
| Income taxes | 67/77 | €38 | - | -€38 | |
| Profit (loss) for the period | 9904 | -€224,035 | €29,364 | +€253,400 | |
| Transfer from tax-exempt reserves | 789 | €4,265 | €3,412 | -€853 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€219,770 | €32,776 | +€252,547 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.